The rumors we’ve been hearing has now been confirmed. Times Internet has acquired a majority stake in Mumbai-based CouponDunia Media Private Limited.
CouponDunia operates digital coupon marketplace connecting consumers with retailers and brands. CouponDunia will retain its brand identity and will continue to operate under the leadership of CEO Sameer Parwani, the company said.
In February, when we’d written to Sameer asking for confirmation on the deal, he’d denied the acquisition. Times Internet’s existing deals site TimesDeal will merge with CouponDunia.
Sameer Parwani, Founder and CEO, CouponDunia India Private Limited said,
We receive over 2 million visits a month and are driving Rs 500 Cr of purchases annually from over 1500 online retailers and brands.
CouponDunia was founded four years ago.
This is the latest in a string of acquisitions that Times Internet has made in the last few months. In February, Times Internet Acquired Indie Music Site Musicfellas. In April 2014, TimesCity Acquired Restaurant Booking Platform, Dineout. In 2013, it acquired Pune Based Android App Gawbl. In 2012, it acquired MensXp.